Wayfair beats Q3 revenue and profit estimates on more customers, orders
W•Wayfair's Q3 revenue rose 9.7% to $3.40 billion, slightly above estimates, while adjusted EPS of $0.93 beat the $0.79 consensus. The company said higher order volume and more active customers drove growth.
1. Quarterly results
Wayfair reported Q3 revenue of $3.40 billion, up 9.7% year over year, and adjusted EPS of $0.93. Revenue was slightly above the $3.38 billion analyst estimate, while adjusted EPS beat the $0.79 estimate. Net income was $62 million.
2. Order growth
The company said revenue growth was driven by a 12% increase in orders delivered and a 4.7% rise in active customers. Repeat customers placed 80% of total orders, and repeat order volume increased 11.4% year over year. CEO Niraj Shah said double-digit U.S. revenue growth reflected market share gains in a flat category.
3. No specific guidance
Wayfair did not provide specific financial guidance for the current quarter or full year.
